Ilya Kovalchuk opted to walk away from $56 million over the next five years to play at home in front of his family—but after those five years, he could theoretically return to the NHL and sign with whomever he wants.

The former New Jersey Devils winger, expected to officially announce a contract with SKA St. Petersburg of the KHL any day now, will be removed from the “voluntary retired list” on his 35th birthday, which is April 15, 2018, deputy commissioner Bill Daly told the New York Post.

Returning to the NHL before that point would require the approval of all 30 teams—or, if he were to not play anywhere for a calendar year before the five years are up, he could only play for the Devils upon return, Daly said.

Neither of those three options is all that likely; Kovalchuk is now the face of the Russia-based league and, even more than before, a national hero. His decision has reignited analysis of the KHL's increasing viability as an NHL alternative, particularly for European players, and the overall declining presence of Russian players in North America.

As noted by James Mirtle on Twitter earlier this week, only 18 Russian skaters played more than 30 games in the NHL last season. Ten years ago, there were more than 45 regulars.

The main reasons for that: Increased salaries in the KHL, fueled by billionaire owners aggressively attempting to grow the league, and the resultant concern among NHL teams—they're essentially asking, Why should we spend time, money and other resources on Russian players if they're going to leave? It's a chicken-or-egg scenario.

Another question: How could you blame them? In Kovalchuk's case, he spent 11 seasons as a point-per-game player, had two 50-goal seasons, matured into a great two-way player and led his team to the 2011 Stanley Cup finals with a serious back injury. He's a Hall of Famer whether he plays another NHL game or not.

As for the Devils, they lost an elite player—and his $6.67 million cap hit, and potentially enormous cap recapture fee down the road, so it's not all bad. They need to at least attempt to replace him, though, and Damien Brunner would be a good start. The 27-year-old winger had 26 points in 44 games last season with the Detroit Red Wings, his first in the NHL, and had nine points in the playoffs.